SG Americas Securities LLC Buys 9,105 Shares of Futu Holdings Limited (NASDAQ:FUTU)

SG Americas Securities LLC lifted its stake in shares of Futu Holdings Limited (NASDAQ:FUTUGet Rating) by 161.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,742 shares of the company’s stock after acquiring an additional 9,105 shares during the period. SG Americas Securities LLC’s holdings in Futu were worth $550,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Dupont Capital Management Corp increased its position in shares of Futu by 126.9% during the third quarter. Dupont Capital Management Corp now owns 2,637 shares of the company’s stock worth $98,000 after acquiring an additional 1,475 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Futu during the third quarter worth $2,017,000. US Bancorp DE increased its position in shares of Futu by 28.7% during the third quarter. US Bancorp DE now owns 7,645 shares of the company’s stock worth $285,000 after acquiring an additional 1,704 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Futu by 1.5% during the third quarter. Baillie Gifford & Co. now owns 1,124,736 shares of the company’s stock worth $41,941,000 after acquiring an additional 16,449 shares in the last quarter. Finally, Ronald Blue Trust Inc. increased its position in shares of Futu by 596.9% during the third quarter. Ronald Blue Trust Inc. now owns 683 shares of the company’s stock worth $36,000 after acquiring an additional 585 shares in the last quarter. Institutional investors own 19.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FUTU. Credit Suisse Group downgraded shares of Futu from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $61.00 to $64.00 in a research report on Friday, December 16th. DBS Vickers started coverage on shares of Futu in a research report on Monday, October 24th. They issued a “buy” rating and a $55.00 target price for the company. TheStreet raised shares of Futu from a “c+” rating to a “b-” rating in a research report on Thursday, December 15th. Bank of America downgraded shares of Futu from a “buy” rating to an “underperform” rating and decreased their target price for the company from $59.60 to $27.00 in a research report on Friday, December 30th. Finally, CLSA downgraded shares of Futu from a “buy” rating to a “reduce” rating and set a $43.00 target price for the company. in a research report on Tuesday, January 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Futu currently has an average rating of “Hold” and a consensus target price of $52.52.

Futu Price Performance

Shares of FUTU stock opened at $53.51 on Tuesday. The stock has a market cap of $8.05 billion, a P/E ratio of 24.77, a P/E/G ratio of 8.43 and a beta of 0.73. The company has a fifty day moving average price of $56.02 and a two-hundred day moving average price of $46.36. Futu Holdings Limited has a one year low of $21.23 and a one year high of $72.20.

Futu (NASDAQ:FUTUGet Rating) last announced its quarterly earnings results on Monday, November 21st. The company reported $0.68 EPS for the quarter. The firm had revenue of $247.85 million during the quarter. Futu had a net margin of 35.56% and a return on equity of 12.17%. As a group, equities research analysts anticipate that Futu Holdings Limited will post 2.48 EPS for the current fiscal year.

Futu Profile

(Get Rating)

Futu Holdings Ltd. is an advanced technology company, which engages in online brokerage and wealth management services. It provides investing services through its proprietary digital platforms, Futubull and moomoo that allows investors to trade securities and invest in fund products. The firm’s fee-generating services include trade execution, as well as margin financing and securities lending, which allow its clients to trade securities, such as stocks, ETFs, warrants, options and futures, across different markets.

Further Reading

Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

Receive News & Ratings for Futu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Futu and related companies with MarketBeat.com's FREE daily email newsletter.